36 New products/ MGA – Alumni profiles Lloyd’s Lab Impact Report 37 Kettle Focus in insurance value chain/ Activity in the Accelerator Koe Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting COHORT ,  workflow: Point of underwriting, Primary focus product area whilst in Claims Primary focus product area whilst in Specific lines of business supported the Accelerator: Parametric the Accelerator: Automotive, SMEs, (if applicable): Personal, Corporate Specific lines of business supported Supply chain/NDBI Example of benefit of Accelerator to (if applicable): SME Kettle worked with their Example of benefit of Accelerator to organisation: mentors to understand the needs and organisation: Koe performed a back Kettle is an MGA underwriting climate appetites of the market when it came to Koe is an MGA providing fleet insurance. test portfolio analysis on mentors' fleet risks, initially wildfire and now also wildfire risk and how to approach Through its use of telematic sensors and premium data. Through this Koe tropical cyclone. It has developed entering the market. They identified camera equipment, Koe can track and demonstrated that through using their machine learning models that analyse several issues including outdated and model fleet risk across 100 characteristics unique and granular pricing system the satellite imagery, weather data, and real inaccurate risk and loss models, locked of the trucks, and evaluate individual and mentor companies would have been estate data to determine the probability of up capacity and slow payment of company-wide driving behaviours, able to avoid considerable losses and a property being impacted by a wildfire claims. They incorporated these oering insurance accordingly. Koe also improve loss ratios as much as 16% due and the likely damage caused. Kettle’s insights into the development of their oers a credit card for SME truck drivers to better risk selection. first products include a homeowners’ Founded: 2020 parametric product, GRIL (Grid Rated which gives users cashback. Founded: 2019 product, a parametric wildfire reinsurance Industry Loss). The capacity behind product, and a parametric wildfire Status: Operating, still in insurance Kettle’s Parametric Commercial Status: Operating, still in insurance insurance product for corporates. product comes from a Lloyd’s Company type: MGA syndicate, found during the Accelerator. Company type: MGA Head oce: Bermuda Head oce: North America Main global oces: Bermuda Main global oces: USA Locations served: USA Locations served: USA Employee count: 11-100 Employee count: 11-100 Kita Focus in insurance value chain/ Activity in the Accelerator Koop Technologies Focus in insurance value chain/ Activity in the Accelerator COHORT ,  workflow: Point of underwriting COHORT ,  workflow: Point of underwriting Primary focus product area whilst in Primary focus product area whilst in Specific lines of business supported the Accelerator: Climate change, Specific lines of business supported the Accelerator: Improving claims Corporate, Speciality Personal, Gig/ (if applicable): decarbonisation (if applicable): process Freelance, Corporate, SME Example of benefit of Accelerator to Example of benefit of Accelerator to organisation: Kita was originally organisation: Whilst in the Accelerator, Kita is an MGA providing insurance planning on creating a parametric Koop Technologies oers insurance Koop developed a new tool to support for the carbon markets. The company's insurance product for the voluntary products for autonomous vehicles, its claims management feature on its flagship product, Carbon Purchase carbon market. Through its experience robotics and other emerging technology administration system. At the end of the Protection Cover, protects carbon in the Lab it created its first product, risks. Insurance is underwritten within cohort, we presented our data-sharing credit buyers against the risk of Carbon Purchase Protection Cover, and managed on Koop's administration API and underwriting technology to carbon sequestration projects failing one of the first voluntary carbon market system which can be integrated into carriers. Just six months later, Koop to deliver expected volumes of insurance products in the market. third-party systems via an API. Brokers became a coverholder at Lloyd’s with its credits. Kita is developing a range can use Koop's administration system inaugural robotics insurance program, of products to protect against Founded: 2021 to fill out applications, generate Founded: 2020 Singularity Package. multiple risks faced by carbon credit certificates and undertake renewals. buyers, sellers and intermediaries. Status: Operating, still in insurance Status: Operating, still in insurance “Lloyd’s Lab was hugely beneficial to Kita in Company type: MGA Company type: MGA, Administration terms of helping create strong connections system and partnerships within the Lloyd’s market, Head oce: United Kingdom where innovative products like carbon Head oce: North America Main global oces: United Kingdom insurance can find a home.” Main global oces: USA Natalia Dorfman, Chief Executive Ocer Locations served: United Kingdom, and Co-Founder USA Locations served: Global Employee count: 1-10 Employee count: 11-100 © Lloyd’s © Lloyd’s